Europe shares close mixed despite US GDP boost

European shares closed mixed on Wednesday despite investor sentiment being boosted by better-than-expected gross domestic product (GDP) growth from the U.S.

The FTSEurofirst 300 Index provisionally closed flat at 1,205.72 points after a raft of economic data from the euro zone. Inflation data was in line with estimates at 1.6 percent (year-on-year). The unemployment rate came in at 12.1 percent, slightly better than expectations of 12.2 percent.

However, retail sales data for Germany dented investor sentiment after it showed a fall of 1.5 percent in June, the biggest drop for a year. The German DAX provisionally closeddown 0.3 percent.

European stocks were buoyed by U.S. economic growth data, with gross domestic product (GDP) growing at a 1.7 percent annual rate. Economists polled by Reuters had forecast the economy growing at a 1.0 percent pace. The FTSE 100 in particular was boosted by the U.S. news, with the index closing roughly 0.5 percent up.